We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Avid Technology, Inc. (“Avid” or the “Company”) (NASDAQ: AVID), in connection with its proposed acquisition by an affiliate of STG.  Under the merger agreement, the Company’s shareholders will receive $27.05 per share.

Weiss Law is investigating whether (i) Avid’s board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the $27.05 merger consideration adequately compensates Avid’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $45 per share, $17.95 above the merger price.

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com